Gold futures settle back above $1,800, up 3 sessions in a row
Gold futures posted a third straight climb on Thursday, with prices settling back above the key $1,800 an ounce level for the first time in four sessions. A softer U.S. dollar helped to support gold prices, ahead of a key round of inflation data, said Edward Moya, senior market analyst at OANDA. Data on Friday include a reading on the producer price index and University of Michigan inflation expectations. Next week, the Federal Reserve is expected to "downshift" to a half-point rate-hike, but traders will want to hear what is has to say about the trend of inflation and where rates could peak, said Moya. Gold for February delivery rose $3.50, or 0.2%, to settle at $1,801.50 an ounce on Comex.
(END) Dow Jones Newswires
December 08, 2022 13:45 ET (18:45 GMT)
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